S&P affirms Potash

Standard & Poor's said it removed the ratings on Potash Corp. of Saskatchewan Inc. from CreditWatch, where they had been placed with developing implications in August.

The agency also said it affirmed the A- long-term corporate credit and senior debt ratings on the company.

The actions come after news that BHP Billiton Ltd. has withdrawn its offer to acquire Potash, S&P said.

The ratings reflect a view of the company's leading market position in potash, its diversification in three fertilizers, low leverage and history of strong cash flow generation, S&P said.

Historical volatility in the company's nitrogen and phosphate operations constrains the ratings, the agency said.

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